Tag Archives | business

Three reasons Australia should regret dropping corruption from B20 agenda

The Australian government took the reins of the G20 on 1 December. In its vision it acknowledges that corruption is bad for business, but Australian business doesn’t seem to think the same, having dropped it from its top priorities for 2014. We think this is a mistake.  “Corruption is a severe impediment to sustainable economic […]

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HSBC, Panama: “Exit, stage right”

The moral relativism that traditionally infects multinationals in hot, corrupt countries is going out of style.”  This is according to Jonathan Guthrie of the Financial Times, in discussing the decision of HSBC to close down its operations in Panama (Corruption Perceptions Index score in 2012: 38 out of 100).  The decision was  purportedly to increase […]

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What Billions In Illicit And Licit Capital Flight Means For The People Of Zambia

A forthcoming report by Global Financial Integrity finds that Zambia lost US$8.8 billion in illicit financial outflows from 2001-2010

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How not to fall foul of the Foreign Corrupt Practices Act

This week the Department of Justice and the Securities and Exchange Commission published their long-awaited guidance intended to provide useful information to companies to comply with the Foreign Corrupt Practices Act (FCPA). The 120 page document has for the most part been welcomed by civil society organisations and defense counsels alike because of its comprehensiveness […]

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Please mind your own business, France!

“Our country is a good student when it comes to passing laws. What is missing is their implementation because of the lack of political will” says Daniel Lebègue, chair of Transparence France. One of the world’s biggest exporters, France is not doing nearly enough to fight and prevent foreign bribery, say the OECD’s and Transparency […]

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The power of journalism as an anti-corruption tool

From 7-10 November 2012, more than 1,000 people from around the world will gather in Brasilia for the 15th International Anti-Corruption Conference. Brazil is a particularly interesting setting for the conference. Whilst discussing and debating some of the most pertinent corruption problems and solutions, one of Brazil’s biggest corruption cases in history – the Mensalão […]

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The business case for fighting corruption

With countries under pressure to create growth and jobs, especially for the young generation just entering the job market, dealing effectively with corruption is not only an ethical imperative; it is an imperative for the well-being of the economy and society. Elaine Dezenski, Senior Director and Head, Partnering Against Corruption Initiative, World Economic Forum, explores […]

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Barriers to preventing corruption: what do businesspeople say?

Last week, on 12 September, three former Hewlett-Packard managers were charged in a corruption investigation over improper payments aimed at winning a 35 million euro (US$45 million) computer sales contract in Russia some nine years ago. The former German Hewlett-Packard subsidiary has been charged with bribery, breach of trust and aiding in tax evasion. But […]

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Are Chinese leaders ready to tackle corruption in China?

High profile arrests. Public denunciations. Strict new anti-corruption laws for government officials on all levels. China is very vocal in its determination to stop corruption. There are signs that China may be getting serious about corruption, but are these measures the start of a move towards more transparent and accountable government, or just window dressing? […]

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A Hazy Awakening – Corruption risks capturing Hungary

In the picture of Hungary painted by Transparency International Hungary’s report on the country’s institutions last week, the colours would be quite blunt, with opaque areas in grey representing shady figures and institutions bound together very closely. In less artistic terms, it seems that nowadays private interests prevail over public interests, and Hungarians have just […]

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